Former CEO of Reliance Trends, Arun Sirdeshmukh, and Darpan Munjal, President of LeapMatrix, a consulting firm focusing on e-commerce startups, have launched Fashionara.com, an online fashion store that offers merchandise from premium and luxury fashion brands across apparel, footwear and accessories. The site has been launched for private access through Facebook logins and will be commercially launched by the end of this week. There was speculation when Sirdeshmukh left Reliance Trends, that he was in talks with venture capitalists Lightspeed and Helion for raising funding, and would announce his e-commerce venture. Funding: The company has indeed raised a Series-A funding, from Helion Venture Partners and Lightspeed Venture Partners, to fund its operations, and is headquartered in Bangalore, India. The funding round was closed in February-March 2012, and although the company did not disclose the exact amount raised, it said that it was enough to allow the company to establish itself as a significant player, in the competitive Indian ecommerce landscape. Sourcing & Brands: The company has brand tie-ups with close to 50 players, which it plans to expand to 100 by August 2012. Speaking with MediaNama, Sirdeshmukh informed that they wanted the site to mirror a fashion mall with prominent brands, and the merchandise is directly sourced from the suppliers. Some of the key brands that Fashionara retails include Adidas, Reebok, Benetton, Sisley, Nautica, Guess, Lee, Wrangler, Vans, Jack & Jones, Vera Moda, Only, Daniel Hector, Urban Yoga, Jealous 21, Forever New, Arrow, Flying Machine, W, 109F, Fab India, Levis Kids, Puma Kids, G&J, UCB Kids,…
eCommerce
Fashionara Launches Fashion Focused eCommerce Store; Raises Funding From Helion & Lightspeed
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